Oil and Gas Data Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2023
Albany, NY -- (SBWIRE) -- 07/06/2016 -- A new market research report by Transparency Market Research on the global oil and gas data management market offers a comprehensive analysis of the current scenario of the market and points out the key factors impacting its growth. The report, titled "Oil and Gas Data Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2023," projects the growth and valuation of the global oil and gas data management market during the period between 2016 and 2023. The market has been studied on the basis of type of data management solutions and regions. The report further profiles some of the key players in the global oil and gas data management market.
As the global oil and gas industry emphasizes on the exploration of offshore reserves, various regulations have compelled oil and gas companies to take the help of data management solutions to optimize business performance and improve safety standards. A vast amount of data is churned through various stages of oil and gas exploration, production, trading, and retail. The emergence of a number of leading IT firms to cater to the data management requirements of oil and gas companies has revolutionized the competitive landscape of the global oil and gas data management market.
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The growing focus on the usage of information technology to maximize oilfield recovery and minimize non-productive activities will fuel the growth of the global oil and gas data management market. The implementation of oil and gas data management software has helped in streamlining integrated workflows in oilfields, thereby leading to huge profits. However, high initial investments and the lack of awareness about the benefits of oil and gas data management will hinder the growth of the market during the forecast period.
The report studies the global oil and gas data management market across five key regions: Latin America, Asia Pacific, North America, Europe, and Middle East and Africa. The report studies the growth of each of these regional markets and analyzes the various macro- and micro-economic factors impacting the demand for oil and gas data management services.
Some of the key players in the global oil and gas data management market are NetApp, Oracle, SAP, IBM, and Wipro. Though these large companies dominate the overall market, the emergence of startup firms is expected to disrupt the market dynamics in the near future. These smaller companies offer oil and gas data management services at competitive prices and, hence, can pose as a threat to the growth of the larger players in the market. The report provides detailed information about the key players including their company overview, service portfolio, recent developments, business strategies, and financial overview.
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